Ripple Wants Governments to End ‘Wild West’ Era of Cryptocurrencies

A senior Ripple official has called on British regulators to revisit their ‘wait and see’ approach to cryptocurrencies and called for new rules introduced by the likes of Japan.

While cryptocurrencies are commonly seen as financial instruments meant to circumvent governmental controls or oversight from central banks, Ripple (XRP) – the world’s third-largest cryptocurrency with a market cap of over $26 billion at press time – has called on the UK government to step in and set rules for the crypto sector.

As reported by The Telegraph, Ripple’s head of regulatory relations Ryan Zagone called on regulators for focus on three “pillars”, namely consumer protection, financial stability and anti-money laundering while drafting and delivering regulations that sustains a balance between “capturing risk and enabling innovation.”